New York, NY (18 November 2019)
Valuation Research Group (VRG), a leading global provider of independent valuation, advisory and value-related services is pleased to announce that our U.S.-based member firm, VRC, has been published in Tax Executive, the professional journal of Tax Executives Institute.
In the article, “Valuation Perspectives From Around the World”, PJ Patel and Anthony Pumphrey discuss how an increased analysis within financial reporting for multinational enterprises has increased the levels of analysis required for tax reporting. The authors note that while valuation standards for tax once may have lagged behind book, greater scrutiny by tax authorities along with new global standards have now increased the requirements for data, analysis, and support. This is especially clear now that the OECD’s BEPS project is in full swing.
Pumphrey observes, “The (OECD’s) BEPS project has introduced major changes to global taxation and transfer pricing, with requirements for more detail and information-sharing around economic and legal ownership and asset characteristics. As a result, practitioners and tax authorities have posed several new questions….” He notes further that BEPS has impacted higher standards for the valuation of intangibles and other assets within transfer pricing studies and royalty assessments and provides some practical considerations along with case studies for tax professionals.
The article also includes summary of a survey conducted by Patel with leadership members of VRG; the survey outlines local tax requirements, specialist certifications for valuation professionals, general tax rules, and the valuation expertise of local tax authorities.
A copy of the article is available on the Tax Executive website.
VRG is a global valuation practice that furnishes expert and independent opinions of value for solvency, fairness, business enterprises, intangible assets, capital stock, equity interests, real estate and fixed assets. VRG has a network of over 1,300 professionals located in offices throughout continental Europe and the United Kingdom, Brazil, China, India, Mexico, Canada, Argentina, Australia, and the United States. The U.S. practice operates as VRC.
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